Turbo Energy (NASDAQ:TURB) Stock Falls 9.6% – Here’s What Happened

Turbo Energy, S.A. (NASDAQ:TURB) dropped 9.6% during trading on Tuesday. The stock traded as low as $1.02 and last traded at $1.03. 301,076 shares were traded during trading, a decline of 89% from the average daily volume of 2,858,073 shares. The stock had previously closed at $1.14.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Turbo Energy from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, September 14th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Turbo Energy Stock Performance

The stock has a 50-day moving average of $1.27 and a 200-day moving average of $1.68.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Turbo Energy stock. SmartHarvest Portfolios LLC boosted its position in shares of Turbo Energy, S.A. (NASDAQ:TURB) by 411.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,105 shares of the company’s stock after buying an additional 89,364 shares during the period. SmartHarvest Portfolios LLC’s holdings in Turbo Energy were worth $297,000 at the end of the most recent quarter.

About Turbo Energy

Turbo Energy, SA designs, develops, and distributes equipment for the generation, management, and storage of photovoltaic energy in Spain, rest of Europe, and internationally. The company offers lithium-ion batteries; inverters; photovoltaic modules; Go Solar, a portable photovoltaic product; and Sunbox, an AI based software system that monitors the generation, use, and management of photovoltaic energy. It is also involved in the acquisition, distribution, and sale of electrical and electronic materials for the development of renewable energy projects, such as solar panels, inverters, chargers, regulators, batteries, and structures.